The Future Fund – the startup support package announced last week – was broadly welcomed across the sector, though not without caution.

Beauhurst highlighted that just 27% (7,629) of the startups they track are eligible. SeedLegals concluded that “few startups will qualify, and for those that do it’s a bad deal”. Coadec noted that while it is a welcome development, “there are still some big challenges to overcome”. Check Warner (Ada Ventures) made the point that “diversity must not be sidelined” in the distribution.

On the latter point, Emma Sinclair and Hephzi Pemberton have launched a petition calling on the chancellor to align the diversity agenda and the Future Fund. Sign it here.

Many organisations and individuals have set out thoughtful recommendations on how to improve the scheme. These include:

CBILS – the Coronavirus Business Interruption Loans Scheme – has lent just £2.8bn to 16,600 businesses. There are now 52 accredited lenders, but the Telegraph reports “dozens” are still waiting to be accredited. The chancellor is now preparing 100% loan guarantees for the smallest firms; a welcome development given just last week he was “not persuaded” by the idea.